Dateline Resources managing director Stephen Baghdadi said: “This independent review not only boosts our confidence in the targets’ geological significance but also helps sharpen our drill prioritisation.”
Dateline says the next move is simple and could be a game-changer. After fine-tuning its targets with an induced polarisation survey, the company plans to let the drill rigs do the talking. Two are already on site, with a third about to fire up.
The plan is to hit the best gold and rare earth targets at the same time – a savvy move given Colosseum’s enviable address is just 10 kilometres from the world-class Mountain Pass rare earth mine. It’s a one-two punch aimed at unlocking more ounces of gold while tapping into the project’s growing critical minerals potential.
Colosseum hosts a current JORC-compliant resource of 27.1 million tonnes at 1.26 grams per tonne gold for 1.1 million ounces, with more than two-thirds sitting in the measured and indicated category.
A bankable feasibility study is underway, supported by strong project economics including a net present value (NPV) of US$550 (A$830) million and an internal rate of return of 61 per cent – and that was done at a now very much outdated gold price of US$2900 (A$4380) an ounce. As gold continues to hit almost daily new highs – recently touching US$4379 (A$6765) per ounce – the numbers are only likely to keep growing.
With the new geophysical data in hand and the rigs about to target the most promising anomalies, Dateline appears to be closing in on a potential expansion of its Californian gold inventory – one that could elevate Colosseum from a 1-million-ounce deposit to something far larger.
Standby for some rare earths action too…
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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